Santander Holdings USA, Inc.
For the period ended Mar 31, 2026. Filed May 4, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 4, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows for the
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
Unaudited (in thousands)
| Three months ended March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net income | $414,171 | $365,874 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Credit loss expense | 431,342 | 425,943 |
| Deferred tax expense / (benefit) | 7,255 | (82,225) |
| Depreciation, amortization and accretion | 576,642 | 657,231 |
| Net gain on sale or disposal of loans, investment securities, and other assets | (23,397) | (43,130) |
| Originations and purchases of LHFS | (1,907,539) | (1,651,960) |
| Proceeds from sales of and collections on LHFS | 1,992,549 | 1,533,857 |
| Net change in: | ||
| Trading securities and trading liabilities, net | (2,298,260) | (3,765,986) |
| Other assets and BOLI | (197,684) | 33,277 |
| Other liabilities | 1,276,878 | 735,950 |
| Other operating activities, net | 2,920 | (721) |
| NET CASH PROVIDED BY / (USED IN) OPERATING ACTIVITIES | 274,877 | (1,791,890) |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Proceeds from sales of AFS investment securities | 503,234 | 200,245 |
| Proceeds from prepayments and maturities of AFS investment securities | 195,106 | 203,217 |
| Purchases of AFS investment securities | (310,704) | (445,974) |
| Proceeds from prepayments and maturities of HTM investment securities | 391,157 | 195,482 |
| Purchases of HTM investment securities | (555,574) | (89,544) |
| Proceeds from sales and maturities of equity method and other investments | 65,811 | 66,716 |
| Purchases of and contributions to equity method and other investments | (272,450) | (87,800) |
| Net change in federal funds sold and securities purchased under resale agreements | (436,387) | (626,599) |
| Proceeds from sales of LHFI | 106,000 | 58,451 |
| Purchases of LHFI | (204,291) | — |
| Net change in loans other than purchases and sales | (971,684) | (370,416) |
| Purchases and originations of operating leases | (71,832) | (851,994) |
| Proceeds from the sale and termination of operating leases | 791,235 | 1,019,260 |
| Purchases and sales of premises and equipment, net | (41,853) | (36,573) |
| Other investing activities, net | 20,248 | 4,061 |
| NET CASH (USED IN) / PROVIDED BY INVESTING ACTIVITIES | (791,984) | (761,468) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Net change in deposits and other customer accounts | 2,229,609 | 1,262,033 |
| Net change in short-term borrowings | (38,816) | (1,181,399) |
| Net proceeds from long-term borrowings | 3,717,666 | 11,489,031 |
| Repayments of long-term borrowings | (5,429,535) | (9,351,550) |
| Net change in federal funds purchased and securities loaned or sold under repurchase agreements | 1,845,168 | 3,265,894 |
| Dividends paid on common stock and preferred stock | (44,175) | — |
| Other financing activities, net | 14,409 | 38,330 |
| NET CASH (USED IN) / PROVIDED BY FINANCING ACTIVITIES | 2,294,326 | 5,522,339 |
| NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | 1,777,219 | 2,968,981 |
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD | 19,695,903 | 23,576,006 |
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD (1) | $21,473,122 | $26,544,987 |
(1) The three months ended March 31, 2026 and 2025 include cash and cash equivalents balances of $15.4 billion and $21.2 billion, respectively, and restricted cash balances of $6.1 billion and $5.3 billion, respectively.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.